The Liberal government extended an olive branch to the oilpatch in its budget on Thursday, providing details on a federal investment tax credit for carbon capture, utilization and storage developments.
“Overall, pleased that it was included,” added Finance Minister Travis Toews. “We are not sure that this is going to be enough.”Photo by Azin Ghaffari/Postmedia files The tax credit will be set at 60 per cent for investments made in equipment for direct air capture developments, and 50 per cent for investments in equipment to capture CO2 in CCUS projects.Article content
MEG is part of the Oilsands Pathways to Net Zero Alliance, a group of six companies working together to reach net-zero emissions by 2050. The alliance has proposed building a CO2 trunk line connecting more than 20 oilsands facilities, primarily in the Fort McMurray area, to an underground storage hub near Cold Lake.
“We have seen the federal government step up to the table with a 50 per cent number and challenge the province — not make it obligatory — but challenge them to step up,” he said.
Canada is a empty country we have not even come close to putting even a tiny dent in our land mass with people .. We are a drop in a massive ocean of land .. And we are below net zero in co2 :) Trudeau is a lair